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>Ford expects to record about $19.5 billion in special items with the majority in the fourth quarter. It is believed that this is the largest impairment ever f

by hnburnsy 10mo ago

>Ford expects to record about $19.5 billion in special items with the majority in the fourth quarter. It is believed that this is the largest impairment ever from a company.

bpt3 10mo ago
It's believed by whom? I think AOL Time Warner still has the record at over $50 billion, unless you're talking about some specific form of impairment.
- hnburnsy 10mo ago
  CNBC
  - bpt3 10mo ago
    I'd be interested to see the article if you have it, but thanks for the reply.
    - hnburnsy 10mo ago
      It was right after the news broke and while the host was talking to Phil Lebeau they mentioned it, with the 'believed' qualifier. Looks like with hindsight it may not have been the largest.
rootusrootus 10mo ago
It's such an absurd number that I strongly suspect Ford is taking this opportunity to play some accounting games. If it is a real number, then I am darkly amused at how much money they could lose and still only make three EVs.
missedthecue 10mo ago
In addition to the AOL mentioned elsewhere - 1. GE took a $22B impairment in 2018. 2. Shell took a $22B write down in 2020. 3. ConocoPhillips incurred a $34B impairment in 2009.